Operational performance was really strong and adjusted EBITDA came in at $74 million this quarter, up 30% year-on-year. Total operating revenues increased to $107 million in Q3, this was an increase of 13% from the same quarter of last year. So, turning to slide number five, we can see that the group had a very solid performance in the third quarter.
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I'm very pleased to provide an update on our financial results for the third quarter of 2021. Thanks, Karl and good morning, everybody. I will now turn the call over to Eduardo to take us through the third quarter results.Įduardo Maranhao - Chief Financial Officer We now have no material debt maturities until after the FLNG Gimi delivers an increased financial flexibility to fund attractive FLNG growth project. The proceeds from these financings will be used to refinance our upcoming convertible bond maturity, as well as extend maturity of other vessel financings. On corporate and investment, we secured $682 million in new financings during the quarter. We see continued strengthening for LNG shipping with increasing interest for three to five-year charters, increasing asset values driven by new building prices and increasing day rates. We have recently contracted one of our ships for a one-year time charter at about $100,000 a day, increasing our revenue backlog for the Shipping segment to $267 million. We expect to see increased earnings also from this segment going forward due to increased spot exposure of our fleet opening up through 2022. Turning to Shipping, our Shipping portfolio achieved a TCE of $49,500 a day for the quarter, up 26% year-over-year. We have also seen an increase in the amount of prospective FLNG customers in the quarter across different geographies. And we're also making rapid progress on potential integrated projects. We continue constructive discussions with an existing customer for use of a five million ton Mark III new build. We also experienced increased momentum for potential new FLNG projects. This will unlock an EBITDA backlog to Golar of $3 billion. FLNG Gimi is now 75% technically complete and scheduled to start it's 20-year contract for BP in just about two years. We also see increasing contribution from our Brent-linked earnings and together, the commodity linked production from Hilli is expected to more than double Golar's earnings from Hilli, in 2022, versus the last 12 months earnings. Furthermore, we hedged 50% of our TTF linked commodity exposure for Q1 '22, at $28 per MMBtu, implying a Q1 earnings from our train 3 production of $21.2 million for the quarter. Starting off on FLNG, we continue to deliver 100% uptime on Hilli which now has delivered it's 63rd LNG cargo, more than any other FLNG globally.
We expect to continue to see a strong growth in our earnings across both our FLNG segment and Shipping and we'll get into the details of which throughout this presentation. We report revenue for the quarter of $107 million, a year-over-year increase of 12% and an adjusted EBITDA of $74 million, up 30% year-over-year. Turning to slide three and Q3 highlights. Eduardo Maranhao, to present this quarter's results. Before we get into the quarterly results, please note the forward-looking statements on slide two. My name is Karl Fredrik Staubo, the CEO of Golar LNG.
We would like to thank you for taking time to dial in. Hi, all and welcome to Golar LNG's Q3 earnings results presentation. *Stock Advisor returns as of October 20, 2021 and Golar LNG wasn't one of them! That's right - they think these 10 stocks are even better buys.
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